Project

Definition

A project, as used on this site, is a defined set of activities undertaken to achieve a development or investment objective, together with the facilities and arrangements for implementing them. It can include a new development, an expansion or upgrade, or existing operations, across relevant stages from planning and construction to operation and closure.^{[1] [2]}

The financing framework determines its formal scope. IFC Performance Standard 1 includes business activities whose individual assets are still to be identified, such as a corporate portfolio or investments through a financial intermediary. For World Bank Investment Project Financing, the project comprises the activities defined in the legal agreement between the Bank and the borrower.^{[1] [3]}

Environmental and social assessment considers the project's area of influence, applies the relevant requirements for associated facilities, and examines direct, indirect, and cumulative impacts. For baseline studies and impact analysis, record the financed activities, the assessment's geographic and temporal boundaries, and the responsibilities of the client and other implementing parties.^{[1] [3]}

Sources

• [1] International Finance Corporation (IFC). 2012. Performance Standard 1: Assessment and Management of Environmental and Social Risks and Impacts. 1 January 2012. Washington, DC: IFC. Paragraph 4 and footnotes 6–7 (project scope and lifecycle); paragraphs 7–9 (risk identification, area of influence, and third parties).
• [2] Equator Principles Association. 2020. The Equator Principles: A Financial Industry Benchmark for Determining, Assessing and Managing Environmental and Social Risk in Projects. Fourth edition (EP4), July 2020. Exhibit I: Glossary of Terms, entries “Project” and “Project Development Lifecycle,” p. 29.
• [3] World Bank. 2017. Environmental and Social Framework. Washington, DC: World Bank. “World Bank Environmental and Social Policy for Investment Project Financing,” paragraphs 8 and 10–11, p. 5 (financed activities and associated facilities).
• [4] Equator Principles Association. 2013. The Equator Principles: A Financial Industry Benchmark for Determining, Assessing and Managing Environmental and Social Risk in Projects. Third edition (EP III), June 2013. Exhibit I: Glossary of Terms, entry “Project,” p. 18. Historical source retained from the original entry; the fourth edition is cited above.

Source links checked 10 October 2026.